ASX-listed junior mining company Venture Minerals Limited has commenced commissioning of the wet screening plant at its Riley iron ore mine in northwest Tasmania as iron ore prices continue to surge.
According to the company’s statement, the equipment commissioning phase is now underway after various stages of the installation phase of the plant construction were completed.
“The electrical installation and piping are near completion, and the power station is now operational,” reads the statement.
“As commissioning continues, previously mined ore will be put through the plant, as part of the process of ramping up towards steady state production to meet the target of first ore shipment this quarter.”
Venture Minerals’ Managing Director Andrew Radonjic said the company continues to prepare for full operational start-up and will recommence mining activities this week as the plant nears completion.
“Achieving this milestone of the installation schedule for the Plant, keeps the first iron ore shipment on track for this quarter, Mr Radonjic stated.
“The recent record iron ore price makes it a perfect time for the Company to transform from explorer to producer.”